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Tax due goes up the more expenses I enter
I have a rental property that was rented for 7 months of 2023. As I enter each expense (advertising, maintenance, repairs, supplies, and utilities), my tax due increases. For science, I entered expenses into Form E manually, taking my $2,288 Income to a $7,000 loss and my tax due went up even more. This makes no sense.
‎January 30, 2024
9:16 AM